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Q&As on REMIT – Question II.5.5.

What happened in the interim phase between REMIT’s entry into force until the adoption of the REMIT implementing acts?


Answer:

Since the monitoring activities under REMIT are based on the collection of trade and fundamental data in accordance with Article 8 of REMIT and the relevant implementing acts, the Agency’s market monitoring activities in the interim phase – i.e. until the entry into application of the REMIT implementing acts – relied on notifications of suspected breaches of REMIT from NRAs and from persons professionally arranging transactions and on public sources.

NRAs were able to request wholesale energy data in ad-hoc cases on the basis of the record-keeping obligations for market participants. This was particularly the case if a potential infringement of the prohibitions of market abuse signalled by a person professionally arranging transactions according to Article 15 of REMIT or by a market participant. NRAs had to inform the Agency about any such cases signalled to them.

Last update: 09/02/2014   RSS_Icon Subscribe to this Page’s RSS